Hello my fellow Bitcoinistas! Is it possible? Is this complex correction about to end? It could be. After reading up on "double three" corrections we have a Flat, followed by an (any three) X Wave, followed by a 5-3-5 ZigZag OR...…………… a TRIANGLE. Well, this crazy shit they call a chart looks more like a triangle forming than anything else. Do you...
Good Morning my fellow Bitcoinistas! I am still pondering how this 3rd corrective pattern will end, but end it will. And when it does end WATCH OUT MOON ! For those of you new to my work I am still 100% long Bitcoin and have always held a small long position since 2013. Yes, I have traded a little BTC here and there over the years and taken some profit but my...
It would appear so....
Good morning my fellow Bitcoinistas! It looks like the pattern from my previous charts are playing out very well. A 3-3-5 Flat, X Wave, followed now by what looks to be a 5-3-5 Zig Zag. This chart zooms in on the Zig Zag to show how the count may play out. If Waves 1 and 2 are complete then we are currently in Wave 3. This Wave should complete soon IMO, and...
I hate to say it guys but this correction might not be over. What I can say with confidence, however, is that we have already completed a text book 3-3-5 Flat Correction and that did not end the overall correction. Then we completed what looks to be a large ABC pattern or X Wave and that did not end it. From what I have studied some corrections become more...
I worked the hell out of that last count and gave it every opportunity to succeed. But, at the end of the day, it failed. First I got sad, then I got mad, then I got back to work! This chart is the result. The triangle is a perfect fit, the WXY fits, and, if we are to continue higher, the current count with Fibonacci confirmation fits. A bounce off the 61.8...
So long as the price of Wave 4 does not start making 4 hour or 1 day closes below the top of Wave 1 the Bulls are still in the game. Are the tables turning Bears? Did you get trapped by the Bitcoin Bear Slayer? LOL I guess we will all find out soon enough....
It appears to me that the longer this breakout builds the larger the magnitude of the breakout will be. My previous 5 wave count out of this triangle has about doubled in size when I had to recount it this morning. What I have drawn above may be the minimums. Wave 3 up could far exceed the 1.618 Fib before pausing to start Wave 4 making the total move even...
Good morning, This triangle is another very good reason we may be going up to complete Wave 5 soon. Good luck today!
This is what I am currently look for. If the Fibs workout the entire last move up may have been the completion of Wave 3 and we are working on Wave 4. Still long, still a hodler, still doing what hodlers do - Hodling. :0)
Is the market ready to light the fuse and break out of this channel, flag, correction, etc. or do we pull back one more time? Stay tuned.....
Hello my fellow Bitcoinistas! Wow what a ride of late. As you can see on the weekly chart the 20/40 moving averages, once crossed, do not uncross until the bull run is over. This could take years. You will also notice that the 20 week MA is about $8,300 right now while the 40 week MA is about $6,100. Anybody still calling for sub $6K Bitcoin must be smoking...
Since price did not break the previous low I am counting it as the bottom of wave 2. The next Wave 3 will be the tell. If Wave 3 consists of 5 sub-waves that measure impulsive instead of corrective then what we have seen is most likely a 3-3-5 Flat correction and BTC will start moving up from here. If, however, the Fibs of the Wave 3 sub-waves measure...
I'm long again. After reviewing the post of some of my supporters, other opinions I value, and stepping back and looking again at my count I believe the bottom of 2 is still valid even though it slightly extended past the 78.6 Fib. My line in the sand is the wave V of C line at the bottom of the chart. If this level gets broken I'm out again to reevaluate the...
This is my current hypothesis. It remains valid so long and the price does not break below the blue 2 and invalidates the count. If it does break below the blue 2 then my expectation would be to complete a larger 3 wave ABC down and start the new 5 wave count up from there. Unless and until this count gets violated I'm sticking with it. Good luck and have a...
Now that we have clearly finished wave 5 of the previous move we are on Wave 1 of the current move. Wave 2 will often retrace as far down as the 61.8 or 78.6 Fib level of Wave 1. As you can see on this chart it looks like Wave 1 has topped out just over $10K and is pulling back to put in the bottom of Wave 2. If this plays out to the lower fibs I plan to add to...
Yesterday I was looking for the Bitcoin price to bounce off the 78.6 Fib and start a move higher. Although it did break the 61.8 Fib the price never quite made it down to the 78.6. From the current Wave count it looks like there is a real possibility that we are making Wave 4 now above the 78.6 and still have room to the downside to complete a Wave 5. There are...
This is my best estimate of what is going to transpire short term. If the price does not break the 78 Fib to the downside then this is a Wave 2 with a 3,4,5 to follow. If this is not the case, I'm out until $8,500. I don't think we are going there yet, if ever, but that is what I keep reading everyone else saying. Probably all the more reason for me to believe...